entrepreneurs
Norges Bank Investment Management, which oversees Norway's sovereign wealth fund, is set to oppose Elon Musk's $56 billion pay package at Tesla's upcoming shareholder meeting. In a recently released statement, Norges Bank Investment Management acknowledged the value Musk's leadership has brought since the 2018 grant. Still, the fund is concerned about the award's total size, performance trigger structure, potential shareholder dilution, and the lack of measures to mitigate key person risk. Valued at $1.7 trillion, Norway's sovereign wealth fund ranks as the world's eighth-largest shareholder i...
IBTimes
Millionaire investment banker Jonathan Kaye was captured last Saturday via a surveillance camera striking a woman in the face via a vicious right hook and knocking her to the ground. The incident, which happened in one of the streets of New York, spread over social media via an unknown victim who posted it on X, saying, "This guy punched me in the face today and broke my nose and busted up my friends arm, can anyone find him?" Kaye, the Managing Director of leading investment firm Moelis & Company, is a resident of NYC in the Park Slope neighbourhood, where his $4 million, four-bedroom townhou...
IBTimes
At only 25 years old, Michael Morgan already owns a $10 million business – the Iconic Watch Company, which trades pre-owned luxury watches. His entrepreneurial journey began at age 13 when he sold his first vintage Rolex Submariner out of boredom. "When you're 12, 13, you usually get bored of things very quickly," Morgan tells Entrepreneur. "So within six months [of buying it], I knew that I wanted to sell [the vintage Submariner]." Morgan's fascination with "old things" started around eight or nine, initially with Porsches. Unable to afford cars, he collected coins, stamps, and fountain pens ...
IBTimes
Zac Coughlin's fascination with art, food, and business emerged at an early age. By the time he was 13, he was not just a typical teenager but an entrepreneur in the making. Unlike his peers, Coughlin spent his time in mall food courts, not for toys or clothes, but to study the food business. He closely observed the operations of establishments like Dairy Queen and Mrs. Fields, learning about marketing strategies, branding techniques, and customer upselling. "I always say, I went to the mall not for toys or clothes, but I went straight to the food court, and I would study the food business," C...
IBTimes
In April this year, Tesla announced a workforce reduction of 10 percent, impacting numerous tech professionals worldwide. The dreaded "Dear Employee" email became a reality for many, forever altering their careers. Following layoffs in April, a subsequent email from Tesla informed affected employees of errors in their severance packages. Several former employees, including Austin-based Cameron Sralla, took to social media to share their experiences. Much to the surprise of many, Sralla actually has good words to say about his former company. "Speaking specifically, I didn't receive any marchin...
IBTimes
According to a recent report, Elon Musk and Donald Trump, whose relationship has fluctuated over the years, have talked about Musk taking on a role in the White House. Musk might spend more time at the White House if former US President Trump returns to office. According to The Wall Street Journal, the duo has been discussing an advisory role for Musk if Trump wins the 2024 election. While details about a potential White House advisory role for Musk are still scarce, discussions between Musk and Trump reportedly centred on giving Musk responsibilities over border security and economic policy. ...
IBTimes
To sway shareholder votes on his controversial US$56 billion pay package, Elon Musk is offering exclusive factory tours next month to just 15 shareholders. The upcoming vote, to be announced at the company's annual meeting on June 13, is viewed as a test of Musk's leadership. Investors, left in the dark by Tesla's board's silence following the Elon Musk pay controversy, express concern of the billionaire's divided focus due to his other ventures. Also, he has a reputation for making controversial statements that could damage Tesla's image and sales. Controversial Pay Package Up for Shareholder...
IBTimes
Proxy advisory firm Glass Lewis urged Tesla shareholders on Saturday to reject a record-breaking $56 billion pay package for CEO Elon Musk. Glass Lewis' report criticised the pay package for its excessive size, potential to dilute shareholder ownership upon stock option exercise, and the concentration of power it would grant Musk. The report also raised concerns about Musk's divided focus due to his "slate of extraordinarily time-consuming projects," which recently included the acquisition of X (formerly known as Twitter). "Mr. Musk's slate of extraordinarily time-consuming projects unrelated ...
IBTimes
Nicole Shanahan, lawyer and former wife of Google co-founder Sergey Brin, is once more in hot water as new details of her alleged illicit affair with Tesla CEO Elon Musk was released in a recent report by The New York Times - delving mostly on her image and her influence in Silicon Valley. Shanahan, the surprise running mate of Robert F. Kennedy Jr. for the US 2024 Presidential Election, was pictured as a status and party-loving personality in the article. The piece also revealed several explosive details of how she penetrated and influenced the inner circles of the tech industry - making her ...
IBTimes
While the buildup to selling your company is a flurry of activity where you’re rarely left alone, the aftermath is entirely different — you’re left to deal with proceeds, taxes, and budgeting on your own. How do you adjust to your new financial and emotional reality after exiting your business? Address These Post-Sale Financial ConsiderationsFirst things first: Before doing anything else, you should address a few post-sale financial considerations. Understanding their potential impact makes budgeting and investing easier. Capital Gains TaxesYou pay a long-term capital gains tax on profits from...
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